Printer Friendly

NATIONAL CASINO COMPANY ANNOUNCES MIDWEST CASINO BOAT; HARRAH'S CASINO BOAT TO LAUNCH IN SPRING 1993

 NATIONAL CASINO COMPANY ANNOUNCES MIDWEST CASINO BOAT;
 HARRAH'S CASINO BOAT TO LAUNCH IN SPRING 1993
 MEMPHIS, Tenn., March 3 /PRNewswire/ -- Harrah's Casino Hotels announced today the City of Joliet, Ill., has agreed to enter into an agreement for the development and operation of a casino boat with the Des Plaines Development Limited Partnership.
 This will be the first time that a national casino company will operate a gaming boat in the Midwest.
 Des Plaines is a partnership between Harrah's and John Q. Hammons, a major developer, owner and operator of 98 hotels with annual revenues of over $400 million.
 Harrah's is the gaming subsidiary of Memphis-based The Promus Companies Incorporated (NYSE: PRI), which also owns, operates and licenses more than 400 Embassy Suites, Hampton Inn and Homewood Suites hotels.
 Harrah's is the 80 percent general partner and Hammons is the 20 percent limited partner in the venture.
 "With this project, we are officially launching the Harrah's brand name into the growing casino cruise market in the nation's heartland," said Phil Satre, president and chief operating officer of The Promus Companies. "Harrah's selected Joliet for its first casino boat venture because of its proximity to a market of 6.2 million people in the Chicago metropolitan area.
 "We expect to attract many new guests to the Harrah's brand name as well as those Midwest gamblers who enjoy visiting Harrah's six casinos in Nevada and Atlantic City," added Satre.
 Harrah's market research and studies indicate that the Joliet casino operation can be expected to attract approximately one million visitors annually to Joliet's City Center, spurring the City's downtown redevelopment efforts.
 "We intend to make this a successful operation by giving our guests exciting and fun-filled gaming entertainment in a comfortable and modern environment," noted Satre.
 In a presentation to the Joliet City Council, representatives of Harrah's said the three-level casino boat is expected to have approximately 700 gaming positions including a variety of slot machines and table games including craps, blackjack and roulette.
 The Harrah's/Hammons venture plans to build a 210-foot-long boat to accommodate approximately 1,000 passengers. The boat will feature a modern "mega-yacht" design including a dramatic atrium through its three levels, "enhancing the ship's entertainment environment," said Satre.
 The City of Joliet has designated a three-block area where the city will construct a 220-foot boat basin, to be surrounded by a landscaped riverwalk. The Harrah's/Hammons venture will contribute up to $1 million to create the riverwalk.
 The venture will also build a pavilion for ticketing, restaurant and retail facilities and 750-parking spaces.
 The total project costs for the venture and city are estimated at $36 million.
 Based on preliminary estimates, the total project is expected to create 300 jobs during construction and 400-500 full-time positions once the casino cruise ship is launched in Spring 1993.
 The Harrah's/Hammons representatives indicated that their proposal is
suBj.,??W????Q %9?Q!%I?A IQe? /CONTACT: Ralph Berry, The Promus Companie s corporated, 901-762-8629/
 (PRI) CO: Harrah's Casino Hotels; Des Plaines Development Limited
 Partnership; The Promus Companies Incorporated ST: Tennessee, Illinois IN: LEI SU: PDT


DF-CM -- CH003 -- 4513 03/03/92 13:37 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 3, 1992
Words:524
Previous Article:TRANSTECHNOLOGY CORP.'S ELECTRONICS UNIT RECEIVES $4.2 MILLION ORDER FROM GENERAL DYNAMICS
Next Article:RJR NABISCO DECLARES REGULAR DIVIDEND ON PREFERRED STOCK
Topics:


Related Articles
HARRAH'S SELECTED TO NEGOTIATE FOR NORTH KANSAS CITY, MISSOURI'S FIRST RIVERBOAT CASINO
PROMUS CASINO ENTERTAINMENT UNIT ESTABLISHES NEW DIVISION FOR RIVERBOATS
HARRAH'S AND SKY GAMES TO EXPLORE IN-FLIGHT GAMING
HARRAH'S PLANS ACTION PACKED BIRTHDAY MONTH
HARRAH'S TO NEGOTIATE WITH POKAGON BAND OF POTAWATOMI INDIANS FOR CASINOS IN MICHIGAN AND INDIANA
PRINCIPAL CHIEF FOR THE EASTERN BAND OF THE CHEROKEE INDIANS OF NORTH CAROLINA SIGNS MANAGEMENT DEVELOPMENT AGREEMENTS TO PURSUE CASINO DEVELOPMENT...
HARRAH'S ANNOUNCES EXPANSION IN NORTH KANSAS CITY; SECOND BOAT, HOTEL PLANNED
PRAIRIE BAND OF POTAWATOMI NATION SELECTS HARRAH'S TO NEGOTIATE FOR CASINO IN KANSAS
Foyt Racing Hits the Jackpot with Harrah's; Alliance Marks Professional Auto Racing's First Casino Title Sponsorship.
Mikohn Receives Contracts Valued at More Than $3 Million For Louisiana Casino Projects.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters